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The Lede: Succession boom

Over recent months, families have had more time to think about succession. In the latest version of our monthly newsletter, The Lede, we looked at why it's essential for families to focus on the communications side of succession planning.

two hands passing a seed

This article is an extract from Transmission Private's monthly newsletter, The Lede, which tracks the world of reputation management for private clients. You can sign up for the newsletter on our website via the tab at the bottom of this article or by completing the form here.


Good afternoon, welcome to this ‘succession special’ edition of The Lede. 👋 With everyone spending more time at home, there has been speculation about a potential coronavirus baby boom. I wondered whether there might actually be a succession boom too?

Why might there be a succession boom? Over recent months, many families have spent more time together. The enforced pause on many family’s day-to-day business activities has also given many individuals more time to have conversations about mission, purpose, and the future. Cue the difficult discussion about succession, which many families have been meaning to talk about for a while... but never got around to.

Why does this matter? We have been reading about the ‘great intergenerational wealth transfer’ for a number of years now, as Millennials continue to take more prominent positions in family businesses and family offices, but could coronavirus be the trigger point? The once-in-a-lifetime event that lights the touchpaper on the transition?

But, why does it matter really? While families have invested a lot of time in succession planning from a legal, financial, and structuring perspective, they are still highly exposed on the communications side. Let’s run through a few of the reasons.

The upshot... we could be about to go into a succession boom. Families need to ensure they look after their communications just as well as their finances during this tricky, challenging process.

Transmission Private publishes a monthly newsletter that tracks the future of reputation management for private clients.

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Transmission Private publishes a monthly newsletter that tracks the future of reputation management for private clients.

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Transmission Private publishes a monthly newsletter that tracks the future of reputation management for private clients.